Shares of Burger King India gains after hitting lower circuit in early trade on Monday, as value buying from investors emerged after the sharp sell off on Thursday.
In early trading session, the share surged as much as 8 per cent to Rs 175 on the BSE. At 2:00, it was trading up 2.76 per cent at Rs 165.90 while the benchmark Sensex was 1.22 per cent down at 46,385.83. So far during the day, the shares of Burger King were traded in the range bound of Rs 175 to Rs 145.35 as compared to its previous close of Rs 161.45.
On December 14, Burger King shares made a strong market debut, valuing more than double of its issue price of Rs 60 per share and then, in the next two days the company’s shares were locked in 20 per cent upper circuit. The stock has seen profit booking and locked in 10 per cent lower circuit on Thursday and Friday.
Shares of Westlife Development Ltd. were down 0.84 per cent at Rs 425.15. The company holds master franchise for McDonalds in western and southern India.